Homebuyers to benefit from $50m housing fund - Rudd

Homebuyers will save an average of $20,000 on more than 3200 homes and housing lots following a $50 million investment in housing-related infrastructure, Prime Minister
Kevin Rudd
has said.

He said the money, which will be drawn from the Housing Affordability Fund, will be spent on water pipes, sewerage, roadwork and community facilities in housing developments.

"It will be welcome news for families looking for a new home," he told the ADC Cities Summit in Melbourne on Monday.

"Too many Australians are locked out of the housing market."

Mr Rudd said the investment would bring more than 7000 lots forward between six and 14 months faster than would otherwise have been the case.

Sunshine Coast Regional Council is one body to benefit, as it is set to receive $11.5 million to deliver infrastructure in Palmview, Queensland.

"This will deliver around $26,000 in savings to around 450 homebuyers," Mr Rudd said.

NSW Housing and Land Corporation will receive $8 million to provide infrastructure in Seven Hills, while the ACT Land Development Agency will be given $7.5 million to provide public transport services to the residents of Crace.